Ola Electric Q1 Results: The electric two-wheeler manufacturer Ola Electric on Monday, July 14, posted a wider consolidated net loss for the first quarter of the financial year 2025-26 (Q1 FY26) to ₹428 crore. The Bhavish Aggarwal-led company had posted a net loss of ₹347 crore in the same period a year ago.

However, on a quarter-on-quarter (QoQ) basis, the loss narrowed from ₹870 crore posted at the end of the March quarter of FY25.

The consolidated revenue from operations plunged 49.6% year-on-year (YoY) to ₹828 crore during the June quarter, as its sales took a beating from heavy competition. Ola has reported a revenue of ₹1,644 crore in the same period last fiscal year. The performance, however, improved sequentially. The company had posted a revenue of ₹611 crore in the March 2025 quarter.

The sales declined massively during the period under review, hurt by stiff competition from other players like Bajaj Auto, TVS Motor and Ather Energy. The company delivered 68,192 units in the June quarter of FY26, as against 1,25,198 units in the same period last year.

On the operating level, the EBITDA loss for Ola Electric in Q1 FY26 stood at ₹237 crore, higher than ₹205 crore posted in Q1 FY25. The margins came in at -28.6% compared with -12.5%.

The gross margin, meanwhile, improved to 25.8% from 18.4% on a YoY basis.

“This is our best GM performance ever, driven by Gen 3 BOM reduction as a result of our focus on vertical integration and in-house tech, and this trend will continue over the next few quarters. Our FY26 exit target is to have our GM in the range of 35-40% with PLI benefits, which will be around ₹40,000 – ₹45,000 per vehicle,” Ola said in a letter to shareholders.

(This is a developing story.)